BITCOIN ANALYSIS TODAY (April 20) - WIND CHANGE?

A strong bearish push occurred yesterday for #Bitcoin #BTCUSDT. This can be a signal that the wind is changing direction, which can change the direction of the price in the short term. Crypto Traders refer to today's Bitcoin analysis to discuss more about the market situation.

** Previous trade idea result: The idea to buy from the support below has been activated. Currently #BTCUSDT is located in this trigger price zone, so it is considered breakeven.

BITCOIN ANALYSIS #BTCUSDT FRAME D1:

- Yesterday's bar D1 was a bearish bar with the widest range among the recent declines. Volume also increased. Thereby, it showed that there was strong downward pressure yesterday.

- Observe the nearest 03 D1 bars, it can be seen that the two sides Buy - Sell are colliding fiercely. If bar D1 3 days ago had a wide falling range, then bar D1 the other day widened and covered the previous drop, then yesterday's falling D1 bar almost covered yesterday's rising D1 bar, erasing all efforts. price push. This kind of price behavior shows the Sellers' determination to "push" the price down. Maybe next we will see a deeper correction below. The battle around the round number 30,000 is ending more clearly with a slightly better victory for the Sellers.

- The chart structure at D1 is still bullish, but if we want to buy, we can wait for a deeper pullback.

BITCOIN ANALYSIS #BTCUSDT FRAME H4:

- After the V-turn up, #BTCUSDT immediately reversed the V-down again, and even created a lower bottom than the previous one, thereby showing the establishment of a downtrend at H4 has formed. to #BTCUSDT.

- The last 2 H4 bars of #BTCUSDT started to have a long lower shadow and are located at the lower boundary of the Keltner Channel, which could be an oversold signal. Such price behavior suggests the possibility of an upward retracement - correction - before the price resumes the downtrend.

- The key for #BTCUSDT on the short-term H4 today is waiting to sell from the upper resistance confluence, including the upper margin of the downward sloping channel + ppz + round number 30,000

OVERVIEW:

- The downward pressure is reflected in the large decrease of bar D1 yesterday, the same structure of decrease / increase / decrease in the last 3 days.

- The downtrend has established at H4 of #BTCUSDT. Due to the possibility of being oversold, we can wait for the price to rally before selling again.